It’s another action-packed week across foreign exchange markets. We have some data from all corners of the globe with the UK set up for a deluge of key numbers. The first day of the trading week will start us off on a quieter note with the US away from their desks observing President’s Day. As a result, liquidity across markets will be heavily-reduced, implying that we may have a quiet session.
From the UK, we will have 4 days of tier 1 economic data-points. These begin tomorrow with the latest snapshot on the jobs market, followed by inflation on Wednesday, retail sales on Thursday, and probably the most important data of the week – February flash PMI numbers on Friday (services & manufacturing). The question is whether the releases will show another uptick in activity since December’s election. This week should be a crucial one for the pound and could well define its trajectory in the short-term.
Elsewhere, we’ll have the latest round of meeting minutes from the Fed’s most recent announcement a few weeks ago. Even though the announcement did not reveal anything new the information will still be highly anticipated from the market’s perspective. They’ll be released at 7 pm on Wednesday evening. From the eurozone, ECB meeting minutes will be the highlight followed by German ZEW numbers.
Written by Viv Savani. 8:45am, February 17th 2020
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